While not at the upward pace of headline-grabbing metrics such as inflation or gas prices, nonetheless auto defaults are moving higher. And they have been now for 10 of the past 11 months. According to data through May 2022 for the S&P/Experian Consumer Credit Default Indices, analysts determined the latest auto default rate came in […] [Read More]

Everything is bigger in Texas evidently, including the amount of top independent dealerships. Tommy Gregory, owner of Abilene Used Car Sales in Abilene, Texas, was named the 2022 National Quality Dealer of the Year by the National Independent Automobile Dealers Association to close NIADA’s 76th annual Convention and Expo. In a ceremony Thursday night at […] [Read More]

A plan is in place, and the organization has a new leader charged with executing it. Scott Allen, owner of Auto Land in Haltom City, Texas, began his term as president of the National Independent Automobile Dealers Association for 2022-23 by receiving the President’s Ring last week during the 76th annual NIADA Convention and Expo […] [Read More]

General Motors must like the potential of UVeye, a provider of advanced vehicle diagnostic systems. This week, UVeye announced it has received an investment from the automaker’s capital venture arm — GM Ventures — to help fund the development and commercialization of the company’s vehicle inspection technology. According to a news release, UVeye also has […] [Read More]

Late on Thursday afternoon, Sonic Automotive chief executive officer David Smith released a statement on the passing of the company’s founder and executive chairman Bruton Smith. “Yesterday, our company’s founder, executive chairman, and my father, Bruton Smith, passed away. He lived a truly remarkable life fulfilling his love for the automobile business, motorsports, philanthropy and […] [Read More]

Four of the five leaders of the Federal Trade Commission support a proposed a rule to ban what the federal regulator called “junk fees and bait-and-switch advertising tactics that can plague consumers throughout the car-buying experience.” The commissioner who voted against moving forward with this process articulated four points that she said, “Stakeholder input on these […] [Read More]

The dealership news roundup includes a store opening, another rooftop changing hands and a group expanding its leadership team. Let’s begin with more activity within mergers and acquisitions, as Haig Partners served as the exclusive sell-side advisor to Group 1 Automotive on the sale of Sterling McCall Hyundai South Loop in Houston to Steele Auto […] [Read More]

Auto Remarketing Canada is recognizing the 2022 Women & Automotive: Profiles honorees in this digital issue of the magazine and at Canada's Used Car Week next week at the Westin Harbour Castle in Toronto. Leading up to the event, ARC has been posting Q&As with each of the Women & Automotive honorees on this website. Next up is Shari MacQuarrie, who is financial services manager at Mark […] [Read More]

Auto Remarketing Canada is recognizing the 2022 Women & Automotive: Profiles honorees in this digital issue of the magazine and at Canada's Used Car Week next week at the Westin Harbour Castle in Toronto. Leading up to the event, ARC has been posting Q&As with each of the Women & Automotive honorees on this website. Next up is Lisa Prestidge, who is auction manager at Element […] [Read More]

Tip of the conference cap to the American Recovery Association and the North American Repossessors Summit planning committee. They scheduled a pair of intriguing panel discussions to begin the 2022 edition of NARS, which unfolded for the first time at the foot of the Rocky Mountains. The opening panel on Tuesday afternoon featured a diverse […] [Read More]